Month: February 2013
FINRA Offers Guidance on FINRA Suitability Rule 2111
In Regulatory Notice 12-55, FINRA addressed a requirement of FINRA Rule 2111 (Suitability), that a broker-dealer or Registered Representative “have a reasonable basis to believe that a recommended transaction, or involving a security or investment strategy involving a security or securities, is suitable for the customer” based upon the customer investment profile. Since the implementation […]
Read PostDeferred Variable Annuities and Client Suitability
Deferred variable annuities are investment products which have features with both insurance and securities (mutual fund) characteristics. They may be purchased in non-qualified (non-retirement) type accounts as well as in tax-qualified, employer-sponsored retirement or benefit plans. FINRA Conduct Rule 2330 requires that brokers selling these products adhere to FINRA’s new Suitability Rule 2111 and […]
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